WorksheetsAccounting 101
Total questions: 10
Worksheet time: 5mins
Economic resources controlled by a company are reported in the financial statements as
assets
liabilities
equity
expenses
What is the ending date of a financial year in Australia?
April 30
June 30
July 1
December 31
Cost accounting is a form of
financial accounting
management accounting
EBIT may also refer to as
revenue
net income after tax
gross profit
operating income
Which of the ratio would you use to evaluate the liquidity of a company?
Debt ratio
Asset turnover ratio
Current ratio
Gearing ratio
Which of the following is NOT a financial report in a company's annual report?
Balance sheet
Budgeted income statement
Cashflow statement
Statement of profit and loss
The tax rate for large companies in Australia is generally
10%
30%
50%
There is no corporate tax in Australia.
Which of the following activity is NOT reported in a cashflow statement?
Accounting activity
Operating activity
Investing activity
Financing activity
Which of the following is contra-asset account?
Depreciation account
Accumulated depreciation account
Fixed asset account
Land account
Which of the following stakeholder would be an appropriate user of management accounting reports?
Investor
Creditor
Manager
Customer
